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Countries should have sovereign capability on AI, says IBM Chairman

The Indian government should take lead and set up a "compute infrastructure" for the development of artificial intelligence in the manner it did for super computing and communications, IBM Chairman and CEO Arvind Krishna said on Monday. Krishna said every country should build sovereign capability in artificial intelligence and the government should provide a base for technologies that are nascent and have high risk appetite. "I am a firm believer that every country ought to have some sovereign capability on artificial intelligence because you want to use it for purposes which the rest of the world may not want to invest in. That means you need capability on compute and storage and data sets and I think it is for the nation to provide," Krishna told reporters. He said that only two large economies of the world have compute infrastructure for AI and some countries have started plans for setting it up. "India is largely a services economy in tech. But they have to do the investment. I

AI can free up people for more productive jobs: Global tech leaders

Global technology leaders on Friday said Artificial Intelligence (AI) can enhance productivity while they urged for the development of AI in a responsible manner. Speaking at B20 Summit India 2023 organised by CII, IBM Chairman and Chief Executive Officer Arvind Krishna said AI can free up people for more productive work and reduce cost for businesses. He said coding can be improved by about 60 per cent by using AI assistance. "Inside IBM, we think about 20 per cent of the total activity, which we call lower order cognitive work, about 30 per cent of that can be easily made productive through AI. That frees up more people to do more value adding work. It's not that there aren't jobs. If you have productivity then you can access way more clients. You can provide things at a lower cost point," Krishna said. He said things like human resources, the higher level cognitive task like advising people on what kind of team is required, developing people etc are very much human-centric work

Excited about AI's power to drive incremental productivity: IBM CEO

IBM CEO Arvind Krishna on Friday said he is "excited" about AI's power to drive productivity which can help companies and economies grow faster. Speaking at B20 Summit India 2023, Krishna said that building on digital infrastructure, Artificial Intelligence (AI) can take on certain low level cognitive tasks and be able to do them. "When you can do that, you make everyone more productive, in effect you have more workers...you are generating more capita GDP in each nation...as we go back to very beginning of B20 about inclusion, that is the way to make GDP grow faster across all countries," he said. The Indian American CEO of the global tech giant IBM went on to add: "Our goal should all be how do we make secure and accountable AI that can benefit productivity of enterprises and governments." He also sought to separate invention of technology from deployment of technology. Growth, he said, will happen everywhere, not just in global south. "Deployment of technology will happen from

'IBM has prepared a 10-year roadmap to tap into the opportunities in AI'

'India plays a critical role in executing our hybrid Cloud and AI strategy,' says SANDIP PATEL, Managing Director, IBM India & South Asia

Kyndryl aims to grow consulting business to 15% of top line by 2025

Kyndryl Consult was established as a separate unit in November last year which combines Kyndryl's consulting expertise with its technology integration solutions

IBM throws weight behind Japanese chip startup it sees as crucial

Rapidus, a venture backed by some of Japan's biggest electronics firms, is turning IBM's 2-nanometer chip design into production-ready silicon and aims to fabricate such chips

IBM to buy software firm Apptio for $4.6 bn to bolster cloud offering

IBM said it will finance the transaction with cash on hand and expects the deal to close in the latter half of 2023

NPCI to Meesho: Indian firms in Time's 100 most influential companies 2023

Global companies that found mention in the list were Nvidia, SpaceX, OpenAI, Crocs, Taco Bell, BYD, LVMH, and Lockheed Martin

Equitas SFB collaborates with IBM to build digital banking platform

Equitas Small Finance Bank has signed an agreement with IBM Consulting to design and build a digital banking platform aimed at providing a secure experience to customers, the bank said on Saturday. The collaboration between the two entities aims at boosting the digital products offered by Equitas as well as its service offerings, as it evolves its business for a digital-first generation, a press release from the bank said. As part of the next growth phase, Equitas aims to commence its modernisation journey with a cloud-native platform architecture. "The bank's delivery model would be highly product-centric, moving away from traditional program management methodologies to agile frameworks for the various channels including mobile," Equitas's Chief Information Officer Narayanan Easwaran said in the release. "This partnership with IBM is just the first step towards engaging customers. We are confident that this strategic partnership will help simplify and transform the banking experien

IBM expanding in tier-2, tier-3 locations in the country: IBM India MD

Amidst global economic uncertainty, tech giant IBM isn't seeing any sign of a slowdown in India, said Sandip Patel, managing director, IBM India

IBM confirms acquisition of Polar Security reportedly for $60 million

Software giant IBM has acquired automated cloud data security and compliance provider Polar Security for an undisclosed sum. Reports claimed that the deal was valued at about $60 million

IBM employee on sick leave for 15 years sues company for no pay rise

Heeding his complaint, IBM offered him a 'compromise agreement' where he was put onto the company's disability plan so he wouldn't be dismissed

New AI model by IBM-NASA designed to help track Earth's climate change

"The model could speed up geospatial analysis by three to four times, and can help reduce the amount of data cleaning and labelling required in training a traditional deep-learning model"

Top 5 headlines: Windfall tax slashed on petroleum crude, IBM pauses hiring

Business Standard brings you top news at this hour

IBM to pause hiring for jobs that AI could do, says CEO Arvind Krishna

Hiring in back-office functions - such as human resources - will be suspended or slowed, Krishna said in an interview

ArcelorMittal Nippon Steel selects IBM for cloud-powered transformation

ArcelorMittal Nippon Steel India, a joint venture between ArcelorMittal and Nippon Steel, has selected IT major IBM to drive cloud-powered transformation, a statement said on Tuesday. ArcelorMittal Nippon Steel India (AM/NS India), the joint venture of the two leading steelmakers, is an integrated flat steel manufacturer with over 600 steel grades and serves multiple industries and key markets through its India, Indonesia, and Dubai business entities. With capacity expansion plans on a roll, the company recognised that its core business processes will require the necessary scalability and flexibility to support growth. Towards this, AM/NS India tapped into IBM Consulting's cloud-powered business transformation capabilities and expertise in the metals and mining industry prevalent in India. "IBM today announced that ArcelorMittal Nippon Steel India...has collaborated with IBM Consulting to reinvent mission-critical processes in order to boost agility, and efficiency with digital ...

Is AI out to take your job or simplify it? Tech cos insist it is the latter

Many have started using generative AI to make work easier for navigation and organisation

Tono-Bungay enterprise

Today, as in the days of HG Wells, the dilemma that society faces is one of the need for aggressive entrepreneurs, but not entrepreneurs who undertake spiralling risks, unfettered by ethics or nous.

We never stopped hiring in India, says IBM India MD Sandip Patel

While there are pockets of recessionary tendencies that we see in different parts of the world, I believe that India is in a good spot, says IBM India MD Sandip Patel

NASA, IBM team up to develop AI-based models to spur new Earth discoveries

NASA and IBM have collaborated to develop artificial intelligence (AI) based models that will make it easier to mine vast datasets to advance scientific knowledge about Earth, and help the world to adapt to a changing environment. The joint work will apply AI foundation model technology to NASA's Earth-observing satellite data for the first time, NASA said in a statement. Foundation models are types of AI models that are trained on a broad set of unlabelled data, can be used for different tasks, and can apply information about one situation to another. "The beauty of foundation models is they can potentially be used for many downstream applications," said Rahul Ramachandran, a senior research scientist at NASA's Marshall Space Flight Center. "Building these foundation models cannot be tackled by small teams; you need teams across different organisations to bring their different perspectives, resources, and skill sets," Ramachandran said in a statement. One project will train an IB